NXT :: descendant of Bitcoin - Updated Information

[laowai80]

eMunie is not inflationary. If there is a demand on the free market for 10% more coins, 10% new coins are created, but stakeholders receive free coins, so their assets value stays the same.

So how is that not inflationary.
Ok, stakeholders' assets absolute value remains the same, but the total money supply increases with demand, most importantly, it increases at an unpredictable rate. Money supply increases at a large unpredictable rate, you have prices of products and services nominated in that currency also increase proportionately => more coins chasing the same number of products and services issue. Exactly the same we see in the real world of fiat currencies, so what's the difference?

[coco23]

How long does it take for a payout to go through the system? Tried to get some NXT out yesterday but they haven't arrived...

24 hours, more or less, just wait a bit more, or post your account id in the dgex thread, they can look into it faster maybe.

Thanks for that I now got my BTC payout from this morning. Still waiting for the NXT payout though. Is the blockchain explorer working properly?

[Jean-Luc]

Now time for bad news.
BCNext is becoming more and more angry coz of stakeholders who don't help Nxt. They don't run their nodes, they don't support bounties, they don't take part in Nxt promotion.

All of us that spend most of their waking hours following Nxt development tend to forget that not everybody has that time, technical knowledge, and interest, to do so. Those "stakeholders", me including, tend to invest in a variety of crypto-related things. Somebody with a full time job absolutely doesn't have the time to follow the development in all the areas he has invested in, let alone actively participate. Let's not forget that the maximum investment was capped at 1BTC. This is not a huge amount at all, for somebody investing in crypto. I myself have invested more than that for example in Mastercoin, and have spent time and money worth more than 1BTC mining ProtoShares. Yet I don't have time to check the progress of those two projects more than about once a week. It is just diversification, people don't put all their eggs in one basket. In any such project most of the investors will be just that - passive investors. You cannot blame them for not having the time and technical ability to participate. I do it with Nxt because it happens to be in Java and I hope to be able to contribute as a developer. I don't have the time to figure out the intricate Mastercoin protocols and the long term vision behind ProtoShares, so my investment in those projects is passive. Many of the Nxt stakeholders may have the same attitude towards Nxt - they put some money in it, just in case, and moved on because they are busy with other things. We have to accept it as normal, and BCNext should not risk ruining the whole project because of that.

[laowai80]

Is the blockchain explorer working properly?

Yes it does. I waited my NXT payout roughly 24 hours, maybe 30 at most, so don't worry about it.

[alex0909]

Well, even if i don't like threats i hope BCNext is doing this to put a bit of pressure on large holders, it is true that some balances never moved or mined, and this is not NORMAL !

On my side i am a small stakeholder, i sold half of my coins early because i had faith in the coin and wanted to spread it.

And come on, you can sell/give Nxt at a loss, you'll be crazy profitable in the long-term, you know that having a huge balance is not helping the coin, if you want to be stuck with your worthless 30Millions, that's your choice.

[bybitcoin]

Okay I have to put my two cents on the matter too:
-While as Jan-Luc correctly posed it, I am following other crypto-projects and also carrying the barrier of my real-life affairs in the same time, so it is hard to put 100% of my time and attention to Nxt alone. But:
I have been active in running and managing the bounty and giveaway thread (if there is a delay in keeping the giveaway going, should you blame the client bugs and not me). from ~49M I got at the day of launch, I've sold and distributed about ~26M starting from ridiculus low prices of 0.5 btc per million, I already donated a lot publicly and also privately and paid several extra bonuses to early buyers as well.

By the way by the nature of my job and the style of my life I can't be online a lot. Some part of the blames BCNext poses regarding laziness and selfishness of some stakeholders are completely legit and I mentioned them as well, but expecting one to help and also mine and... is not realistic.

Some people could help technically, some could help by managing the projects, some by securing the network when mining, and some by donating some coins to help the others keep things going.

Quoting other peoples' post by saying this is a good idea or that is terrific, or proposing impossible childish plans (AKA spamming), or even coming out of the dark voting for something, or saying after a private deal that somebody is the most honest guy here (making others look not that honest) is not helping at all.

Good Day!

[utopianfuture]

eMunie will succeed because its founder has patience enough to launch when he knows his product is ready. With eMunie it's quality and professionalism all the way, and that's why eMunie will be a huge success when it is launched.

I disagree with this statement. eMunie, as far as I understand, doesn't have a fixed coin supply, from what I have read eMunie money supply is flexible to demand, which is exactly the same system as fiat currencies use right now. Central banks provide as much liquidity into the system as populations require. So eMunie is just a decentralized way of doing the same, which is very inflationary. In my opinion, eMunie is not a competitor of NXT at all. If the money supply isn't fixed, the money system isn't even worth looking at, no matter what other fancy features are included in the package. So, there is absolutely no reason to be spooked by eMunie.

eMunie is not inflationary. If there is a demand on the free market for 10% more coins, 10% new coins are created, but stakeholders receive free coins, so their assets value stays the same.

eMunie promise of keeping its value stable is not credible because they don't have the ability and means to do do. Since when people selling eMu en mass, they have to have a huge reserve of dollar to back the money up otherwise its price against dollar will have to fall. They won't be able to do that.

It has to be understood that in any market price has always been acting as a necessary signal to guide the behavior of the market participants. For example: with bitcoin market if you are holding 100 bitcoin, when the price of bitcoin raising you would be inclined to sell them to more willing buyer, but when the price falls by half, you may decide to keep them all since you evaluate that the potential of the bitcoin is higher than the bitcoin's price right now. All bitcoin market participants follow the same process using the current price as signal as if they are many ships and liners following the lighthouse to reach the shore  The true price is discovered organically.
Now you don't have the price signal here so the price of eMunie is artificially kept up. This is going to be a mess



  

[ferment]

Btw, if any of the founders don't like the latest BCNext's statement they can sell me their NXTs at the initial rate (50M ~ 1 BTC) and leave the project without loss.

Edit: This is a time-limited offer.

Me too!

[wizzardTim]

Btw, if any of the founders don't like the latest BCNext's statement they can sell me their NXTs at the initial rate (50M ~ 1 BTC) and leave the project without loss.

Edit: This is a time-limited offer.

Me too!

Me too!

Or at least perform another round for new stakeholders!

[xadidos]

Btw, if any of the founders don't like the latest BCNext's statement they can sell me their NXTs at the initial rate (50M ~ 1 BTC) and leave the project without loss.

Edit: This is a time-limited offer.

Me too!

Me too! my rate is 50m ~ 1.5-2 BTC.

[Come-from-Beyond]

Or at least perform another round for new stakeholders!

BCNext promised to launch cryptocurrency and reveal source code on the 3rd of Jan. But another round would be a violation of agreement.

[laowai80]

CfB, what are the reasons for some nodes to appear in the Blacklist, even so called Well-known addresses? Short answer would suffice. Don't want to disrupt your coding, but just curious.

[wizzardTim]

Or at least perform another round for new stakeholders!

BCNext promised to launch cryptocurrency and reveal source code on the 3rd of Jan. But another round would be a violation of agreement.

His disappearance and making it look like a scam was part of the agreement too?

Give us a chance here

EDIT
PS: I was ready to invest, till he disappeared!!! And now I have to pay the initial price x1000?

[Come-from-Beyond]

CfB, what are the reasons for some nodes to appear in the Blacklist, even so called Well-known addresses? Short answer would suffice. Don't want to disrupt your coding, but just curious.

1. Node has incorrect hallmark set
2. Node responded with incorrect data or went offline
3. Node exceeded inbound request quotas (will be enabled in future versions)
4. Node is marked as zombie node by legit nodes (will be enabled in future versions)

[salsacz]

Lee gets my vote

[Come-from-Beyond]

His disappearance and making it look like a scam was part of the agreement too?

Now, reading that he was going to follow Satoshi's footsteps, I think he was planning to disappear.

Anyway, "look like a scam" =/= "is scam".

[laowai80]

1. Node has incorrect hallmark set
2. Node responded with incorrect data or went offline
3. Node exceeded inbound request quotas (will be enabled in future versions)
4. Node is marked as zombie node by legit nodes (will be enabled in future versions)

Thank you and another quick question.

In web.xml can the myAddress param be set to anything arbitrary without hallmarking, or do these two params come together? Just want to have a custom nickname of the node in the list, is that the proper way to achieve that, by changing the myAddress param?

[opticalcarrier]

Now time for bad news.
Edit: If stakeholders don't change situation they should sell their coins before price drops below ZERO.

- such DUMP scheme, initiated right now by BCNext, is not good for Nxt. Because those, who believed in the Nxt, and bought some coins at a high price, would loose a lot now. And those, who are bying right now, are not a believers (after such words by BCNext), they are simply very risky traders.

if you think about things in terms of cause/effect, its a fantastic idea.  in fact, itll even get WORSE.

Bravo.

[MyZhre]

I for one didn't catch up the pre-sales train, but I bought a few as soon as people began to spread,
now i'm mining as possible as i can, and i try every new version and report bugs.

glad i can help a little

[Come-from-Beyond]

1. Node has incorrect hallmark set
2. Node responded with incorrect data or went offline
3. Node exceeded inbound request quotas (will be enabled in future versions)
4. Node is marked as zombie node by legit nodes (will be enabled in future versions)

Thank you and another quick question.

In web.xml can the myAddress param be set to anything arbitrary without hallmarking, or do these two params come together? Just want to have a custom nickname of the node in the list, is that the proper way to achieve that, by changing the myAddress param?

"myAddress" must be exactly the same as returned by http://otherserver.com:7874/nxt?requestType=getMyInfo ("host" value). Such announced addresses as... [looks into peer list] ..."Sporadically Online" and "giantdildo" will be blacklisted.